Behind every businessman or woman success stories are unearthed secrets that seldom get publicized because ultimately their successes outweigh their failures. This couldn’t be more true with superstar rapper Jay Z rise to superstardom.
Jay Z has been the kingpin of the rap game ever since we saw the untimely departures of 2Pac and Biggie in the 90s. With that huge void left, the emergence of Jay Z with his debut and platinum selling record ‘Reasonable Doubt’ was released in 1996 receiving more recognition that it probably would have if the aforementioned were still plying their trade in the music industry.
Since then Jay Z has gone on to release 15 studio albums and one live album. All of his latest releases have come via his own label Roc-A-Fella. But simply having sold a reported 55 million albums worldwide isn’t enough for someone of the ilk of the Brooklyn-born rapper. He also has controlling interests in a plethora of relevant global brands Roc Nations sports brand and more recently having acquired Armand de Brignac, Ace of Spades champagne from the Sovereign Brands according to Bloomberg are just some of his business ventures.
However, there was a very ambitious venture of Jay Z’s that went south and proved that he isn’t invisible after all, that for the most part went unreported outside of the state of New York. In 2010, Ace Showbiz reported that the rapper along with New York Governor David Paterson were rumored to be considering a partnership that would bring a new race track and gambling facility to the state of New York.
Newspapers were reporting that Jay Z was using his friendship with Paterson as leverage as a way of getting the plans to build a new racecourse and casino complex built in the state approved. When Jay Z’s Aqueduct Entertainment Group (AEG) landed the contract to redesign the racecourse in 2010, many journalists jumped on this story and reported on the two’s friendship being a major factor on this deal coming to fruition. The Racino as it was named at the time, was the only legal gambling complex in the city, and was seen as a major coup for any investors if the site could be improved dramatically.
The vision for such a site was to bring state of the art gaming akin the casinos in Las Vegas to the center of New York. Additionally, they wanted to reinvigorate the racetrack and try and stage world-renowned races with the same global stature as The Grand National in England and the Dubai World Cup in the United Arab Emirates, which command the biggest television audiences globally in the world of horse racing.
For the New York-native, he was extremely disappointed by the failure to clinch such a lucrative deal. Because of their friendship, once the details of the potential deal with AEG went public, Paterson had no choice but to pull the plug on the deal, leaving Jay Z high and dry. And although he has been quite vocal that he wants to get into the casino game in the future, Jay Z is yet to show his cards as to where he plans to open a world-class casino in the world as of yet.